South Korea’s Hyundai Glovis plans $1.84 billion LNG car carrier order

South Korea’s Hyundai Glovis has revealed plans to order 12 LNG dual-fuel car carriers worth about $1.84 billion.

The South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group announced this in a filling to the stock exchange.

Hyundai Glovis said its board approved the investment on October 26.

According to Hyundai Glovis, the LNG dual-fuel PCTCs will have a capacity of 10,800 ceu, making them the world’s largest PCTCs.

The firm expects to take delivery of the final vessel in September 2027.

With these vessels Hyundai Glovis will “stabilize mid- to long-term fleet operations and respond to strengthening international environmental regulations,” it said.

Hyundai Glovis did not provide any details regarding the shipbuilder(s) of the vessels.

Shipbuilding sources told LNG Prime that Hyundai Glovis would likely place this order in China.

Two yards which could win this order are Shanghai Waigaoqiao Shipbuilding (SWS) and Guangzhou Shipyard International (GSI), according to the sources.

Hyundai Glovis had 116 vessels in its fleet as of the end of the last year, including over 80 PCTCs, its website shows.

Last year, Hyundai Glovis also entered the LNG transportation business after signing a 10-year charter deal for one newbuild LNG carrier with Australia’s Woodside.

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